Mark Wetjen, Commissioner with the Commodity Futures Trading Commission, will speak at the upcoming ABA Commodity & Agricultural Policy Conference. Commissioner Wetjen will give an update on the CFTC’s position limit rule, as well as discuss other factors, such as so called “Cheetah traders”, and how these trades are impacting the markets.
ABA strongly supported the CFTC’s 2012 rule imposing position limits in the agricultural, energy and metals markets. Soon after the CFTC passed the new rule, it was challenged in court. A U.S. District Court ruled against the CFTC’s actions, indefinitely postponing the implementation of the position limit rule. The CFTC, along with ABA and multiple other organizations in support of a rule imposing position limits, are currently working to overcome the concerns of the court.